U.S. Treasuries slipped for a second day on Thursday ahead of a $29 billion seven-year auction and a report forecast to reveal increase in durable goods. The 10-year yield rose 2 basis points to 1.81%, while the price of the 1.625% debt maturing in August 2022 dropped 6/32 to 98 10/32. The U.S. sold out $35 billion of two-year notes
The Yen slid to a four-month low on Thursday after the Nikkei newspaper said that the Bank of Japan will consider expanding its asset-buying program by $125 billion at its meeting at the end of October. The Yen traded at 80.08 per U.S. Dollar, 0.3% down from the previous session, after touching 80.11, the weakest since June 25. It also
On Thursday, Graeme Wheeler, a new chief of the New Zealand's central bank, announced that the bank would maintain its benchmark interest at a record low of 2.5%, as strong currency hurts the country's exports, which are accounted for about 30% of GDP. The decision was in compliance with economists' expectations.
Oil in New York was near a 3-month low on Thursday as U.S. inventories increased more than expected and fuel demand tumbled. December-delivery oil rose 32 cents to trade at $86.05 per barrel in New York. Same month Brent crude added 27 cents to $108.12 per barrel in London, trading at premium of $22.05 to West Texas Intermediate grade, compared
Asia stocks seesaw in Thursday's choppy session, as losses in earnings across Pacific weighed on confidence. The Hang Seng Index was little changed after rising for nine consecutive sessions, but the Shanghai Composite Index fell 0.2%. The Nikkei advanced 0.3% and the S&P/ASX 200 Index added 0.2%, while the Kospi slipped 0.1%.
US blue chips closed with big losses on Tuesday amid weak quarterly reports and fears that earnings will continue to shrink. Sending the US blue chips lower, Moody's downgraded five regions of Spain. Moreover, cautiousness among investors rose ahead of the FOMC meeting and ECB president's speech due on Wednesday. The Dow Jones Industrial Average Index plunged 1.82% to close
Japanese equities were mostly lower on Wednesday as risk sentiment remained under pressure after Moody's cut credit rating on five regions in Spain. Dismal quarterly reports from the US also created pressure on Asian stocks. However, encouraging China's manufacturing data and softer Yen lent support for Japanese shares. The Nikkei 225 Index lost 0.67% to end the session at 8,954.30.
The Hang Seng Index reached one-year high on Wednesday, supported by hopes that QE3 in the US will result in more capital inflows in the city. Mounting expectations that the POBC will announce easing measures also boosted Hong Kong equities. Adding to the winning streak of Hong Kong stock index, China's flesh PMI contracted at the slowest pace in three
German equities bounced off recent lows on Wednesday ahead of FOMC statement due later in the day. However, dismal national data capped the upswing. German Ifo Business Climate Index dropped more than forecast this month while manufacturing activity contracted ore than expected in September. The DAX Index gained 0.48% and is currently trading at 7,208.10. Only three in nine sectors
UK shares rebounded on Wednesday despite weak data from the eurozone. Eurozone's manufacturing PMI indicated further contraction in October. Meanwhile, investors remained cautious ahead of FOMC statement due later in the day. The FTSE 100 Index gained 0.22% to trade at 5,813.22. Seven out of ten sectors within the index climbed. The top-performer was technology sector, adding 3.39%. ARM Holdings
Markit, a market research group reported on Wednesday that U.S. manufacturing activity added less than expected this month. Manufacturing PMI grew to a reading of 51.3 in October, compared a previous month's figure of 51.1. However, economists expected that the index would grow more and reach the level of 51.6.
On Wednesday, the Euro was traded lower versus the U.S. Dollar, following a set of disappointing data from Eurozone. EUR/USD hit a session low of 1.2921, and later consolidated at 1.2949, which was a 0.28% decrease for the European afternoon trading session. The pair's support was likely to be found at 1.2834, while the resistance was prone to be
On Wednesday, treasuries were traded lower, as it was widely expected that an upcoming report on new home sales in the U.S. would show an increase, which undermined demand for safer assets. The yield on benchmark 10-year government notes added 3 basis points, reaching the level of 1.78% by 8:28 a.m. in New York.
The Australian Bureau of Statistics reported on Wednesday that consumer price inflation increased more than expected in the quarter prior to October 2012. The cost of living in Australia added 1.4%, whereas preceding quarter's inflation was only 0.5%. Analysts, however, expected that the index would increase to 1.1%.
On Monday, crude oil was traded higher, but gains seemed to be capped by a streak of disappointing data from Eurozone. On the NYMEX, December delivery futures for light sweet crude were traded at $86.89 per barrel, which was a 0.25% decline for the European morning trade. Earlier, the commodity prices hit a session high of $87.47.
On Wednesday, copper was traded slightly higher, trimming earlier gains, on disappointing data from Eurozone. On the NYMEX, December delivery futures were traded at $3.578 per pound, which was a 0.2% growth for the European morning trade. Earlier, the commodity grew by 0.75%, reaching a price level of $3.597.
The Confederation of British Industry reported on Wednesday that CBI index of industrial order expectations decreased unexpectedly this month, reaching an 11-month low. The index declined by 15.0 points, reaching a level of minus 23.0, from a previous month's reading of minus 8.0. Analysts, however, expected the figure of minus 6.0 points.
Markit, a market research group, reported on Wednesday that Eurozone's manufacturing activity fell faster than expected this month, extending a 14-month long streak of losses. Markit manufacturing PMI declined to a reading of 45.3 in October, compared to a figure of 46.1 last month. Economists, however, expected that the index would be equal to 46.6.
Markit, a market research group, reported on Wednesday that German manufacturing PMI declined unexpectedly in October. Manufacturing purchasing managers' index declined to a reading 45.7, compared to a figure of 47.4 in the previous month. Economists, however, expected that the index would be equal to 48.0. "Within the manufacturing industry, particular weakness was found in the automobiles sector amid softer
Ifo Institute for Economic research reported on Wednesday that German business confidence declined to the lowest in two-and-a-half years. The Ifo said that its index of business climate fell to a figure of 100.0, compared to a reading of 101.4 in the last month. That was the sixth consecutive decline, and the lowest figure since February 2010. Analysts, however, predicted
The MSCI Asia Pacific Index slipped by 0.5% to 122.02 in the end of Asia trading session on the concerns that global economy slows down and new issues on Europe's credit crisis. Commodities related companies declined, as commodity prices erased this year's gains on speculation that demand will decrease due to the struggling global economy.
The Stoxx Europe 50 index lost 0.05% to 2,476.67 points on early London trading session. European markets slip following yesterday's 1.7% decrease. European benchmark has almost erased its gains since the EU bank announced a bond-purchase program. Stocks show a negative performance, as German manufacturing index was 45.7, which was below analysts' estimations, indicating manufacturing contraction of the biggest EU
US stocks plunged during Tuesday's risk-off trading after Moody's downgraded credit rating on five Spain's regions. The market sentiment was also dampened by weak corporate results of the S&P 500 majors. Meanwhile, investors remained cautious ahead of the FOMC meeting and flesh PMI readings due later in the week. The S&P 500 Index tumbled 1.44% to close at 1,413.11. All
Rural commodities retreated on Tuesday as gloomy global outlook weighted on demand for riskier assets. Adding to the negative mood of the commodities, US Dollar was sharply higher on Tuesday, making dollar-denominated assets more expensive for foreign investors.Wheat lost more than on per cent, posting the largest drop in a week on signs that demand for US supplies is softening.